Resolute Forest Products Inc. has divested its Catawba, SC paper and pulp mill to New-Indy Containerboard, LLC
Resolute Forest Products Inc. (NYSE: RFP) has sold its Catawba, South Carolina pulp and paper mill to New Indy Containerboard, LLC for approximately US$300 million, including the assumption of approximately US$40 million of balance sheet liabilities, largely net pension benefit obligations.
Catawba’s operation includes a kraft mill and a pulp dryer to produce market pulp, a thermomechanical pulp mill as well as a lightweight coated paper machine. The facility currently employs 460 people.
New Indy Containerboard is a joint venture between The Kraft Group and Schwarz Partners; apart from Catawba, it owns and operates four mills in the United States focused on the production of recycled containerboard and custom packaging solutions.
Headquartered in Montreal, Canada, Resolute Forest Products is a major producer of lumber, woodchips, wood pulp and paper products including newsprint, coated papers and tissue.
One of Oaklins’ teams in the USA advised Resolute Forest Products on the sale of its Catawba, South Carolina paper and pulp mill.
Talk to the deal team
Jonathan I. Mishkin
Oaklins TM Capital
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